The next Recaufair exhibition takes place in São Paulo between 23 and 25 April 2014. The leading tyre show in Latin America is being held in the Brazilian city for the 11th time and the organiser expects the show will again attract more than 10,000 visitors. More than 70 exhibitors are expected to display “products and […]
Financial analysts have responded positively to Pirelli’s full-year 2013 financial results, with some reiterating their “outperform” guidance. The upbeat response was markedly different to the warnings of some market observers 24 hours earlier, which suggested the emerging market exposure (and its linked foreign exchange fluctuations) and Russian volatility in particular could undermine the company’s 2014 and 2015 outlook.
Pirelli & C. SpA today reported full-year 2013 consolidated revenues of 6,146.2 million euros on 31 December, an increase of 1.2 per cent from 6,071.5 million euros a year earlier. Tyre revenues, which account for almost all of the company’s sales totalled 6,115.8 million euros in 2013, an increase of 1.4 per cent from 6,031.3 million euros. Full year tyre-derived pre-tax profits (EBIT) were 822.0 million euros, an increase of 1.2 million euros (+0.1 per cent) compared with 820.8 million euros in the same period a year earlier, with a margin equal to 13.4 per cent (13.6 per cent in 2012). However, whether it will be enough to allay pre-release market fears that emerging market exchange rates and particular Russian market instability remains to be seen.
Pirelli intends to establish an office in Paraguay, and may use this as a starting point for establishing a greater presence within the country. The official website of the President of Paraguay, Horacio Cartes, reports that the head of state met with Pirelli Latin America executive president Paolo Dal Pino at the Government Palace in Asunción yesterday. Dal Pino was accompanied by Italy’s ambassador to Paraguay, Antonella Cavallari.
Florida, US-based wholesaler Tire Group International has announced two new appointments within its international sales team and one in its domestic sales team. The wholesaler’s international team welcomes Nelson Garces and Luis Betancur, while Perry May joins TGI’s domestic sales team in the capacity of manager for the off-highway division.
A new house brand has been added to Tire Group International’s portfolio. Called Duramas, the passenger car radial range is intended to offer economy while providing optimum tread life for a tyre in its class, and is initially available in six sizes.
Motorists in Brazil, host country for next year’s World Cup, now have the chance to buy an officially-endorsed commemorative tyre. Continental has launched a World Cup edition of its ContiPowerContact, complete with footballs and FIFI World Cup logo on the sidewall. The tyre’s release is being supplemented by an extensive advertising campaign in print and electronic media, radio and television.
Goodyear Tire & Rubber is set to receive its first Trade Americas Award from the Latin Trade Group at this year’s BRAVO Business Awards on 25 October. The tyre maker reports it will be given the BRAVO Trade Americas Award for its “valuable contributions fostering the development of small and medium size enterprises development in the Latin America region.”
Techking Tires reports the launch of a new mixed service pattern it developed based on input from partners in Australia and Latin America. The TKAM C+, 11R22.5 has been designed for mix road service and uses what Techking calls its ‘Noise Buffer’ design which, as the name suggests, is said to reduce noise. It also features a ‘Stone Shy’ design to prevent stone retention, the tyre maker adds.
On 9 December Bridgestone Corporation received a visit from the president of Costa Rica, H.E. Mrs Laura Chinchilla Miranda. During Mrs Chinchilla’s visit to the tyre maker’s headquarters she met with Shoshi Arakawa, chairman of the Board, CEO and president, as well as several other Bridgestone executives.
Bridgestone Corp. has entered into a plea agreement regarding its involvement with a bid-rigging scheme in the US and bribery charges in Latin America. According to Tire Review, under the plea agreement, Bridgestone has pleaded guilty to antitrust conspiracy charges and a violation of the Foreign Corrupt Practices Act. As a result, the company will pay a $28 million fine, which is said was “a significant reduction from the applicable sentencing guidelines due to Bridgestone’s cooperation and remediation efforts.”
In his address at The Goodyear Tire & Rubber Company’s Annual Shareholder Meeting today, chairman and chief executive officer Richard J. Kramer said he is confident in Goodyear’s strategy and believes the company is well positioned to achieve its goals, having been pleased with Goodyear’s 2010 performance, which exceeded the company’s targets. The company’s financial results reflected significant improvement in all four regional tyre businesses, most notably North American Tire’s return to profitability, he said.
BSM Technologies Inc., a leading provider of remote monitoring, fleet management, fleet diagnostics and automated vehicle security systems, and EMS Global Tracking, part of the Global Resource Management business of EMS Technologies, Inc. said (on 3 April) that they are extending their existing reseller agreement to distribute BSM’s SecTrack products and services to Latin America.
Tire Group International (TGI) is expanding its tyre marketing and distribution in Latin America and the Caribbean by opening a new sales office in the Peruvian capital, Lima. The sales office will be headed by Fredy Montoya Soriano, who has more than 35 years’ experience in the tyre and automotive industries.
At its February 3 extraordinary meeting, the Lanxess AG Supervisory Board agreed to revoke the contract of chief financial officer and Board of Management member Matthias Zachert. This measure was taken at Zachert’s request, Lanxess reports. The 43-year old has served on the Lanxess Board of Management since 2004.
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